BEIJING, March 9, 2021 / PRNewswire / – Glory Star New Media Group Holdings Limited (NASDAQ: GSMG) (“Star of glory“or the” Company “), a leading online and mobile digital media and entertainment company in China, today announced that it has signed an annual content cooperation agreement (the “Agreement”) with Beijing Youzhuju Network Technology Co., Ltd. (“Youzhuju”), a wholly owned subsidiary of ByteDance Ltd. (“ByteDance”).
Youzhuju is the operational entity of Toutiao, which is ByteDadvance content platform for Chinese language news and information. Under the agreement, Youzhuju will provide Glory Star Toutiao with graphics and real-time video content for integration into the company‘s CHEERS video platform. The Agreement further provides that both Star of glory and Youzhuju will jointly develop and deploy software development kits and application program interfaces to ensure the smooth integration and transmission of content provided by Toutiao on Glory of the stars CHEERS platform. Star of glory and Toutiao recognize the huge market potential of the 5G era and therefore plan to work together in the future to explore more innovative cooperation opportunities in many other areas, including research and AI.
Star of glory has already integrated many forms of content into its CHEERS app, including CHEERS e-Mall, a short and original video IP matrix, high quality user-generated video content, audio, self-produced TV series and variety shows, CHEERS series variety shows, interactive live broadcasts, games, graphics and more. Star of glory will be able to include Toutiao’s high-quality, personalized and original content on its CHEERS video platform through its cooperation with Youzhuju. This will help to further expand the number of content storylines on the CHEERS video platform as well as enrich the platform’s overall content ecosystem, which will allow Star of glory to satisfy the various information needs of its users and considerably improve their immersion and their activity. Most importantly, the cooperation between Star of glory and Youzhuju will play an important role in strengthening the links between users, content and consumption on the CHEERS video platform as well as improving Glory of the stars ability to convert its CHEERS e-Mall traffic.
About ByteDance Ltd.
Founded in 2012, ByteDance’s mission is to inspire creativity and enrich life. With a suite of more than a dozen products, including TikTok, Helo and Resso, as well as platforms specific to the China market, including Toutiao, Douyin and Xigua, ByteDance has made it easier and more fun for people to connect, consume and create content. ByteDance investors include Coatue, General Atlantic, KKR, Sequoia Capital, SIG and Softbank.
About Glory Star New Media Group Holdings Limited
Glory Star New Media Group Holdings Limited is a leading mobile entertainment operator in China. Glory of the stars the ability to integrate premium lifestyle content including short videos, online variety shows, online dramas, live streaming, its Cheers lifestyle video series, e- Mall and a mobile app, as well as innovative e-commerce offerings on its platform, allows it to continue its mission of enriching people’s lives. The company’s large and active user base creates valuable engagement opportunities with consumers and improves platform engagement with thousands of national and international brands.
Safe Harbor Declaration
Certain statements made in this press release are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates”, “Forecast,” “expect”, “anticipate”, “forecast”, “forecast”, “intend”, “believe”, “seek”, “may”, “will”, “should”, “future”, “proposes” and variations of such words or expressions (or negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of performance, conditions or future results, and involve a number of known and unknown risks, uncertainties, assumptions and other significant factors, many of which are beyond the control of the Company, which could cause actual results or results to differ significantly. nt of those referred to in forward-looking statements. Important factors, among others, are: the ability to manage growth; ability to identify and integrate other future acquisitions; ability to secure additional funding in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; disputes concerning patents, intellectual property and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic; and other factors listed in the company’s annual report on Form 10-K for the year ending December 31, 2019 and in other documents filed by the Company with the Securities and Exchange Commission from time to time. The Company assumes no obligation to update or revise forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. This information is only valid as of the date of this press release.
Glory Star New Media Group Holdings Limited
E-mail: [email protected]
Phone. : +1 (646) 308-0546
E-mail: [email protected]
SOURCE Glory Star New Media Group Holdings Limited